Reply to Savings - screened porch v college?

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[quote=Anonymous]Monthly mortgage is $3000, but we have been paying $4600 since 2017 to pay off the 30 year mortgage in 15 years. (3.6% interest) - should be paid off in 4 years.  My husband wants to do this and whether or not it makes the best financial sense - I am telling myself it’s not hookers & blow and I’m going to throw him a bone and let him do this for his mental health / security.  House currently worth $900K with $150K left on mortgage.

My car loan - 2.5 years left on it, 2.6% interest rate - $383 monthly payment - have a HYS at 4.3% now, just not going to pay that off early.

My student loans - $28K left - at 6% and I have a plan to pay off in 4 years also. (For whatever reason I’ve decide that the interest rate is the price I’m willing to pay to have 4 more years to pay this off.)

3 kids - ages 14, 11, and 8 - oldest is in 9th grade and the mortgage and student loans are timed to both be paid off at the time oldest starts college.

This all remains to be seen as we get closer but I would like to pay room / board / tuition for my kids to go to college at a state school (or that amount put towards private school). They will be in charge of their own spending money in college and for all of grad school.

I would also like to pay cash for a screened in porch in the next 3-5 years.

DH and I are 41/48, almost 42/49. $1.2m saved for retirement.

As of right now, I have the only grandkids on my side and my parents have said they will give some money for college but idk how much.

Can you just try to talk to me on the college savings and the screened in porch and how I’m directing any extra money in the next few years?  Recall that I’m freeing up a bunch of cash in the next 4 years from these loan payments. Our college savings are on the lower end of what I see on dcum - we put in $100/mo./per kid with the idea to fund college by also having extra cash flow from these loans being paid off and to take out student loans for them.

Screened in porch is something I've wanted for at least the last 5 years or more - not on a whim.  [/quote]

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